Starting a Nonprofit: How to Pay Yourself

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  • เผยแพร่เมื่อ 23 ธ.ค. 2024

ความคิดเห็น • 147

  • @garyholness207
    @garyholness207 3 ปีที่แล้ว +61

    Thank you queen. I'm starting a non profit with every intention to make change at a global scale.

    • @TheMaternityMogul
      @TheMaternityMogul 2 ปีที่แล้ว

      It's been a year, how's it going?

    • @krazyspartanodst
      @krazyspartanodst ปีที่แล้ว +3

      @@TheMaternityMogul it takes time bb

    • @Widow2Widow
      @Widow2Widow ปีที่แล้ว +1

      ❤️💪🏾👑 Same here 💚💙💜

    • @bobbisuescott6710
      @bobbisuescott6710 ปีที่แล้ว +1

      I’m doing the same thing. Congratulations 🎉🎉🎉🎉

    • @TheMaternityMogul
      @TheMaternityMogul ปีที่แล้ว

      ​@@krazyspartanodstupdates?

  • @dewaynebrooks7646
    @dewaynebrooks7646 ปีที่แล้ว +2

    Thank you for this video. Gonna start me a non profit and needed more insight on all aspects and thanks again

  • @BCAICulturalArtsHumanities
    @BCAICulturalArtsHumanities 3 ปีที่แล้ว +19

    This is phenomenal information, simply broke down. Thank you for your time and energy with this!!!

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +2

      You're welcome, thank you for watching!

  • @AlexPatterson-x6d
    @AlexPatterson-x6d 25 วันที่ผ่านมา

    Thank you QUEEN, I pray the best for you and all that's attached to you

    • @BossonaBudget
      @BossonaBudget  19 วันที่ผ่านมา

      Thank you, I appreciate you

  • @whyask9864
    @whyask9864 2 หลายเดือนก่อน +2

    Just what i was looking for. I was curious about this. I am going to start a non profit (speaking it into existence). Thank you ❤

    • @BossonaBudget
      @BossonaBudget  2 หลายเดือนก่อน

      Congratulations on getting started!

  • @HealthandBeautyAP
    @HealthandBeautyAP ปีที่แล้ว +1

    I have wanted to start a non profit for years. I have 2 questions:
    1. Why do cpas and others told me that having a for profit business. (I currently have some for profit businesses, looks sketchy to the IRS if you then start a non profit organization? They worry about mis use of money between a for profit and non profit and said it may make me a target for audits. I can't find any information about this.
    2. I had a meeting with my new CPA for my business taxes. I asked him about starting a non profit. He told me that I will have a very hard time finding a CPA who will file a non profit and if I do find one they will charge me thousands even if it's a 0.00 tax return. This was discouraging.

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว +1

      Hi, I’m not a CPA and without knowing the details it’s hard to respond but it sounds like they’re worried about conflict of interest. However, there are scenarios where you can involve your business with the nonprofit as long as your business isn’t benefiting from the relationship and your business isn’t the sole donor (if you’re a public charity). There are consultants who will charge less than a CPA and also if you’re knowledgeable enough you can do it yourself- but I would still have a professional review your application before you submit it.

  • @amberm3607
    @amberm3607 ปีที่แล้ว +1

    I love your videos, new listener !!

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Thanks so much for watching!!!

  • @ReginaldPriceSkillions
    @ReginaldPriceSkillions 2 ปีที่แล้ว +3

    Such a God send thank you

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +1

      Thanks so much for watching!

  • @annettehennekens154
    @annettehennekens154 ปีที่แล้ว +3

    Hello! Thank you for sharing your expertise and experience in this video! So appreciated. ❤❤❤

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Thank you so much for watching!!

  • @RemyyyyDuhhh
    @RemyyyyDuhhh 7 หลายเดือนก่อน +3

    So much information I think I’m in wayyyy over my head with my nonprofit

    • @BossonaBudget
      @BossonaBudget  7 หลายเดือนก่อน +1

      It is a lot, but if you pace yourself and get a strong team, it's doable!

    • @dostuffchannel
      @dostuffchannel 2 หลายเดือนก่อน

      What does your nonprofit do?

  • @jasminebooth8668
    @jasminebooth8668 ปีที่แล้ว +1

    Incredibly helpful.. Thank you so much for all the information. I took notes.

  • @valerievaultz2833
    @valerievaultz2833 2 ปีที่แล้ว +6

    I'm on my way thanks to you. You have provided me with valuable and thought provoking information.

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +1

      That warms my heart to hear!!! I'm glad I can help. Are there any other topics you're interested in?

    • @thachosenone78
      @thachosenone78 ปีที่แล้ว

      Can you do a topic on where to get all the contracts/agreements needed?

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Hi, can you clarify which contracts or agreements you’re referencing?

  • @Akashic_Monk
    @Akashic_Monk หลายเดือนก่อน

    good job

  • @SyndariusFoster
    @SyndariusFoster ปีที่แล้ว +4

    Thank you. This was amazing.

  • @Samstew1989
    @Samstew1989 2 หลายเดือนก่อน +1

    Great information

    • @BossonaBudget
      @BossonaBudget  2 หลายเดือนก่อน

      thanks for watching!

  • @jeanetteshoemakerpriest9008
    @jeanetteshoemakerpriest9008 3 ปีที่แล้ว +4

    Your content. Has. Been a. Big. Help

    • @BossonaBudget
      @BossonaBudget  3 ปีที่แล้ว +1

      I’m so glad! Thank you for watching 🤗

  • @kel2700
    @kel2700 ปีที่แล้ว +1

    This vid is fantastic!

  • @randallbishop9930
    @randallbishop9930 ปีที่แล้ว +1

    Great info. thank you

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Thanks for watching! Have you started your nonprofit yet?

  • @robertosmmjlist
    @robertosmmjlist 8 หลายเดือนก่อน +1

    Thank you for this great content! It is super helpful as we get our non profit startup!

    • @BossonaBudget
      @BossonaBudget  8 หลายเดือนก่อน

      I’m glad it was helpful!

  • @MsGnette
    @MsGnette 2 ปีที่แล้ว +5

    This channel is amazing

  • @LearningToLove..
    @LearningToLove.. 2 หลายเดือนก่อน

    Lots of gems! Thank you 😌

  • @shellymatlock4888
    @shellymatlock4888 2 ปีที่แล้ว +2

    Thank you for sharing

  • @JeanetteBishop-i3r
    @JeanetteBishop-i3r 2 หลายเดือนก่อน +1

    Thank You So Much.

    • @BossonaBudget
      @BossonaBudget  2 หลายเดือนก่อน

      Thanks so much for watching!

  • @cailyntalamonti683
    @cailyntalamonti683 2 หลายเดือนก่อน

    Thank you for this video!

    • @BossonaBudget
      @BossonaBudget  2 หลายเดือนก่อน

      Thank you for watching!

  • @JeanetteBishop-i3r
    @JeanetteBishop-i3r 2 หลายเดือนก่อน +1

    Thanks

  • @charminggoddess9710
    @charminggoddess9710 2 ปีที่แล้ว +9

    Thank you! very valuable information and straight to the point❤️

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว

      You’re welcome, thank you for watching!

  • @tihpromotions
    @tihpromotions ปีที่แล้ว +2

    You videos are so great. I just started following you 2 days ago and listening to your videos. I have a question. Do you have to have a certain amount of people on the board?

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Hi there! Thanks so much for watching and following me. Your state will likely have a required minimum and the IRS likes to see at least 3

  • @ShelleyGilmore-h2m
    @ShelleyGilmore-h2m หลายเดือนก่อน

    Thank you!

  • @F.X.Techniq
    @F.X.Techniq 3 ปีที่แล้ว +4

    Really great info thank you very much.

  • @Muvacreatrix
    @Muvacreatrix 8 หลายเดือนก่อน +2

    Are there cases where the executive director can be fired or removed? I'd hate to work that hard just to get kicked off my own organization.

    • @BossonaBudget
      @BossonaBudget  8 หลายเดือนก่อน +1

      Hi, yes that’s possible. I did a video about it: Can You Vote Out a Nonprofit Founder?
      th-cam.com/video/XBZXE4ugqYg/w-d-xo.html

  • @chiconcruz9608
    @chiconcruz9608 2 หลายเดือนก่อน +2

    What if you are the founder and President?

    • @BossonaBudget
      @BossonaBudget  2 หลายเดือนก่อน

      can you say more? do you mean President of the board? They don't usually take a salary.

  • @evol311ve3
    @evol311ve3 7 หลายเดือนก่อน

    How can I start a non-profit and become the first recipient? I am trying to get to Envita for cancer treatment and once I have raised what I need, I will keep the charity running, of course, and help others in my similar situation. Thank you

    • @BossonaBudget
      @BossonaBudget  7 หลายเดือนก่อน

      Hi, if you are collecting donations for a nonprofit, then you arent supposed to conduct activities for your personal benefit. It might be better to do a campaign for yourself (make sure you understand the tax implications).

  • @lisamowms9325
    @lisamowms9325 3 ปีที่แล้ว +3

    Thank you.

    • @BossonaBudget
      @BossonaBudget  3 ปีที่แล้ว

      No problem, thank you for watching!

  • @professorb7054
    @professorb7054 3 ปีที่แล้ว +2

    Thank you so much for this valuable info

  • @rahshaadthegod3486
    @rahshaadthegod3486 3 ปีที่แล้ว +4

    Can you be listed on the board and as staff?

    • @BossonaBudget
      @BossonaBudget  3 ปีที่แล้ว +1

      Generally, no but every nonprofit is different. I would need to know the specifics to give a definitive answer.

  • @89mok1
    @89mok1 2 ปีที่แล้ว +5

    Can the whole board transfer over to be employees to get paid if it's a small board? Or is that not allowed

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +2

      That’s a complicated question- but I will say….follow the right processes for hiring like you would any employee. When it comes to the chief executive officer, you also need to have a process for selecting and compensating that person.

  • @ilovemycultureusa
    @ilovemycultureusa ปีที่แล้ว +16

    It's amazing how many people beat-around-the-bush when it comes to this topic. Thank you so much!

  • @ashleynicolemiller7082
    @ashleynicolemiller7082 2 ปีที่แล้ว +4

    This was great! Thank you! Question.. how much do you put to the side for reserves or savings? For each sale or donation.

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +4

      It depends on the nonprofit. Some may set aside a set amount each mont, like 10%. It also depends on how much you’re trying to save and timing. It’s probably less labor intensive if you save a lump sum (percentage of total income in the month) than per donation. Also it gets tricky if certain donations are restricted so make sure it aligns with your accounting, if that makes sense.

  • @ifs3
    @ifs3 ปีที่แล้ว +1

    Great info👍🏾

  • @bianca.ux.design
    @bianca.ux.design 6 หลายเดือนก่อน +1

    So what forms do I need to file where to actually do this legally??

    • @BossonaBudget
      @BossonaBudget  6 หลายเดือนก่อน

      Forms for which process? Starting a nonprofit?

    • @bianca.ux.design
      @bianca.ux.design 6 หลายเดือนก่อน

      @@BossonaBudget For hiring myself. For example, the W-2 (or W-4?) as an employer, and the 1040 as an employee? I'm not even sure what is needed to the SSA and IRS. And as a 501(c)3 there's some exemptions that we have the right to as employers? Honestly, there's so much contradicting information out there it's scary.

  • @raysislands
    @raysislands 7 หลายเดือนก่อน +1

    Can you unionized in a nonprofit structure?

    • @BossonaBudget
      @BossonaBudget  7 หลายเดือนก่อน

      Hi, that's not my area of expertise but I'm sure you can. There are nonprofits that have unions but they tend to be the bigger ones.

  • @capricemcclinton8967
    @capricemcclinton8967 5 หลายเดือนก่อน +1

    Wait so if I start this organization imma still have ppl above me? Can I be my own board?

  • @WolfPuppi
    @WolfPuppi 2 ปีที่แล้ว +2

    Thank you thank you thank you!

  • @mackaroni7730
    @mackaroni7730 3 ปีที่แล้ว +6

    Ms.Tiffany is so kind. I really enjoyed the work book. I felt so much more confident after talking to her.

    • @BossonaBudget
      @BossonaBudget  3 ปีที่แล้ว +1

      You’re so sweet, thank you for your support!

    • @Mydarlingdutchezz
      @Mydarlingdutchezz 2 ปีที่แล้ว +1

      @@BossonaBudget How do I buy your book?

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว

      Hi, it’s a digital workbook and it’s here: rebrand.ly/npstartupworkbook

  • @kayloveism
    @kayloveism 2 ปีที่แล้ว +1

    What happens when the nonprofit is brand new and the board and everything have not been made yet?

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว

      I think I answered this in the last comment

  • @angelajones1070
    @angelajones1070 2 ปีที่แล้ว +2

    where do I find your books

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +1

      Here you go: rebrand.ly/bossproducts

  • @mikoxbigs7961
    @mikoxbigs7961 2 ปีที่แล้ว +2

    What is the minimum % of what the business makes has to go to the non profit?

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว

      Hi, I don’t understand. Are you talking about a separate business?

  • @frenchadobo
    @frenchadobo 2 ปีที่แล้ว +1

    thank you 💕 girl

  • @dtray0035
    @dtray0035 3 หลายเดือนก่อน

    Hi, I'm having a problem. I was filling out my 1023ez and I forgot to list all my board members. Will they catch my mistake or will i have to pay another $275.00 to file another form

    • @BossonaBudget
      @BossonaBudget  3 หลายเดือนก่อน

      Hi, how many board members did you list?

  • @CrownMarie11
    @CrownMarie11 2 ปีที่แล้ว +2

    do you offer mentor services

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว

      I have a private community that opens 4 times a year that helps people with fundraising. It's closing on May 25th. Here's the link: rebrand.ly/moneyonamission

  • @krazyspartanodst
    @krazyspartanodst ปีที่แล้ว +2

    If I’m the founder could I become a board member and pay myself from the earnings? I have 3 people
    Total who want to become members I assume we can all be paid from
    What we sell?

    • @katbaubo
      @katbaubo ปีที่แล้ว

      Did you find out the answer to this

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Hi, the video breaks this down. Board is not the same as staff. Staff earn their income based on their work. Board members are usually volunteers. You should be careful about compensating board members and some states will not allow it.

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      FYI- I just responded.

  • @aniyahyoung1971
    @aniyahyoung1971 2 ปีที่แล้ว +2

    Is it possible to be the founder of the nonprofit AND LLC-Can the nonprofit pay the LLC Because the LLC is proving a service?

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +2

      If you are the founder of a nonprofit and the LLC and you're using the nonprofit to pay yourself under the LLC that's a conflict and your board needs to handle that and you shouldn't be part of that decision. But this is general information -consult a lawyer for help with conflicts of interest

  • @TheBanker408
    @TheBanker408 2 หลายเดือนก่อน

    What if your just starting off and have nobody your just trying to get the license

  • @kayloveism
    @kayloveism 2 ปีที่แล้ว +1

    Does the process also go for nonprofits that are just now being built? When I declare that im on the board will I have to either not be on the board of my own business to make money? I'm not sure how that works because from your example it seems as if you're talking about a non-profit that has already been in business for a while.

    • @BossonaBudget
      @BossonaBudget  2 ปีที่แล้ว +4

      I’m not sure exactly what you mean by the process but generally it’s the same. The difference with an established nonprofit is that you have the financial resources to pay someone in the Executive Director position. If you’re a startup Exec Director you’re more than likely a volunteer starting out, but that separation between staff and board can still be modeled even from the very beginning

  • @SERENITYTHERAPY23
    @SERENITYTHERAPY23 ปีที่แล้ว

    ​Hello and good afternoon I hope you are well. I have started a charity in England uk where we aim to offer counselling to people on benefits/low incomes. Is there anyway that might fund this ? Thank you

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Hi, are you asking is it a viable idea for funding?

  • @darkbionic1044
    @darkbionic1044 3 ปีที่แล้ว +2

    Hi 👋 new sub here a question board of directors (are these the ones on the board ?) or the officers? Like u have to have directors and officers?

    • @BossonaBudget
      @BossonaBudget  3 ปีที่แล้ว +5

      HI! I don't know how I missed this comment :) The officers are the special roles like President, Treasurer, Secretary, etc. Everyone on the board is a director, but keep in mind that every state may have different terminology. They may be called a board of trustees, board members, etc.

  • @nicholasdean8567
    @nicholasdean8567 13 วันที่ผ่านมา

    I'm starting a nonprofit in Michigan and I would love to talk to you

    • @BossonaBudget
      @BossonaBudget  9 วันที่ผ่านมา

      Sure, here’s a link: calendly.com/bossonabudget/30min

  • @rahshaadthegod3486
    @rahshaadthegod3486 3 ปีที่แล้ว +1

    Can you be a board member on more than one 501c3?

    • @BossonaBudget
      @BossonaBudget  3 ปีที่แล้ว +1

      Yes, you can. Some orgs may have stipulations against it in their bylaws or board member agreements, but generally, yes.

  • @amethystroberson1228
    @amethystroberson1228 2 ปีที่แล้ว +1

    How do I set up a meeting with you?

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      My apologies just seeing this. Here's a link to my calendar: calendly.com/bossonabudget/30min

  • @zackbog
    @zackbog ปีที่แล้ว +1

    so pretty much it would be better to start a for profit subsidiary to handle the money in pay your self through that instead

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว +2

      I can’t say what would be better for you but there are options whether you’re paid by a nonprofit or another business structure.

  • @cefoutreachinc.5987
    @cefoutreachinc.5987 2 ปีที่แล้ว +1

    We are a homeless non-profit and love this video but need some help

  • @lokmatpratishthan363
    @lokmatpratishthan363 6 หลายเดือนก่อน +1

    please help to the Destitute children

  • @WithFlyingColors
    @WithFlyingColors ปีที่แล้ว +2

    I watched a few of your videos today and I am now a subscriber!!!
    You are a blessing!
    May you continue to be blessed and successful for giving away such great information for FREE! 🙏🏾🙏🏾

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Thank you so much for subscribing! It really helps

  • @bossladii9046
    @bossladii9046 3 ปีที่แล้ว +2

    Is it possible to speak to you personally?

    • @BossonaBudget
      @BossonaBudget  3 ปีที่แล้ว +2

      Yes, here's my calendar link: calendly.com/bossonabudget/30min

  • @motleyassortment5512
    @motleyassortment5512 5 หลายเดือนก่อน

    Non profit sounds complicated!

    • @BossonaBudget
      @BossonaBudget  5 หลายเดือนก่อน

      It really can be!

  • @HeartsGlobal
    @HeartsGlobal 7 หลายเดือนก่อน

    ❤❤❤❤❤❤❤❤❤❤❤

  • @themr.whatevershow812
    @themr.whatevershow812 4 หลายเดือนก่อน

    Thank you for the video but really wish you would have gotten to the point. 13 minutes of this was a waste of time.

    • @BossonaBudget
      @BossonaBudget  4 หลายเดือนก่อน

      Thanks for your feedback, but it was not a waste of time. Context is extremely important when it comes to nonprofits. There are rarely simple answers.

  • @tonymorgan9240
    @tonymorgan9240 ปีที่แล้ว +3

    OWNERS OF A COMPANY SHOULD BE EXEMPT AS LONG AS THEY PAY TAXES ????>

    • @BossonaBudget
      @BossonaBudget  ปีที่แล้ว

      Hi, I don’t understand your question.

  • @adambertholet14
    @adambertholet14 2 ปีที่แล้ว +2

    Thank you

  • @Tessa-Morgan
    @Tessa-Morgan 11 หลายเดือนก่อน

    What happens when the nonprofit is brand new and the board and everything have not been made yet?

    • @BossonaBudget
      @BossonaBudget  11 หลายเดือนก่อน

      One of the first steps is compiling a board, so you would need one before you proceed with paying yourself. Getting to that point to be paid takes time anyway.

  • @lamborghini835
    @lamborghini835 ปีที่แล้ว +2

    Thank you.